NEW CHESAPEAKE MEN FOR PROGRESS ED… - Form 990 Financial Data

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

George Reed

Phone

7576500174

Tax Period

2023-01-01 to 2023-12-31

NEW CHESAPEAKE MEN FOR PROGRESS EDUCATION FOUNDATION, founded in 2010, is a small nonprofit in the Education sector that reported $118K in total revenue in fiscal year 2023. Revenue surged 64% from the prior year, signaling strong growth momentum. The organization ran a surplus of $18K, a strong 15% operating margin.

Mission

We are playing a major role in influencing the education of black male youth through a variety of programs. Both scholarships and mentoring services are provided to black male youth at the elementary and secondary levels as well as providing school supplies to students who cannot afford them. We assist in adult services and programs such as jail ministry, parent education seminars and financial empowerment seminars that assist adults in improving their understanding of issues affecting their well being.

Program Service Accomplishments

Program 1

Expenses: $25,000 Revenue: $0

Eric Pope Eric Pope 1000 Jared Myers Morehouse College 1000 Zamauri Jones Virginia Tech University 1000 Jordae Edwards Liberty University 1000 Willie Naar Willie Naar 1000 Xavier Lewis Slippery Rock University 1000 Jaelyn Green East Carolina University 1000 Ryan Reaves Old Dominion University 500 Tyson Liveman William & Mary 1000 Renoldo Windham Jr Virginia State University 1000 Sebastien Jacques Vanderbilt University 1000 Adam Mssiaka Wayne State University 1000 Joshua Streat Virginia Tech University 1000 Kamauri Montgomery Virginia Commonwealth University 1000 Cameron Mclean Norfolk State University 1000 Nicholas Nixon North Carolina A& T 1000 Jarius Hines James Madison 1000 Nasean Smith Shaw University 1000 Kameron Johnson Christopher Newport University 1000 Demontae Watson Old Dominion University 1000 Jaylin Diggs Virginia Wesleyan University 1000 Keenan Hurdle Virginia Commonwealth University 1000 Jaydon Colbert University of Miami 1000 kristopher Goodman Virginia State University 1000

Program 2

Expenses: $5,250 Revenue: $0

UNCF 1000 Ground Zero Mentoring 300 Chesapeake Juneteenth Foundation 0 GW Carver Elementry School Supplies 250 Thurgood Marshall Elementry 250 Trutt Intermediate 250 New Journal & Guide Impacting...

UNCF 1000 Ground Zero Mentoring 300 Chesapeake Juneteenth Foundation 0 GW Carver Elementry School Supplies 250 Thurgood Marshall Elementry 250 Trutt Intermediate 250 New Journal & Guide Impacting Lives Breakfast 1000 Chesapeake Junvenile Services 250 Chesapeake Center for Children Success 250 Boys And Girls Club 1000 Oscar Smith Band 250 NAC Sav our Youth 750 Western Branch Band 200 The Way, The Truth and the Light Church 100

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $115,783

Program Service Revenue $0

Investment Income $2,051

Other Revenue $0

TOTAL REVENUE $117,834

Expense Breakdown

Grants Paid $30,250

Salaries & Benefits $0

Fundraising Expenses $60,114

Program Expenses $30,250

Other Expenses $69,686

TOTAL EXPENSES $99,936

Year-over-Year Comparison

	2023	2022	Change
Revenue	$117,834	$71,799	+0.6%
Expenses	$99,936	$37,789	+1.6%
Net Income	$17,898	$34,010	-0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
William Clayton Bennet	Director	1	Director	$0	$0	$0
Edward R Hicks	Director	1	Director	$0	$0	$0
Herman Ward	Director	1	Director	$0	$0	$0
Ernest Lowery	Director	1	Director	$0	$0	$0
Micah Hall	Director	1	Director	$0	$0	$0
Alvetta Alexander	President	5	Officer	$0	$0	$0
David Hamilton	Vice President	5	Officer	$0	$0	$0
Donald D Larrimore	Financial Secretary	5	Officer	$0	$0	$0
George Reed	Secretary	5	Officer	$0	$0	$0
DUANE MCNAIR JR	Treasurer	5	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$117,834	$99,936	$182,938	$17,898
2022	$71,799	$37,789	$161,041	$34,010
2021	$22,170	$19,563	$127,031	$2,607
2020	$29,464	$17,946	$124,424	$11,518

NEW CHESAPEAKE MEN FOR PROGRESS EDUCATION FOUNDATION